[Featured Stocks] Confusion Grows Over 'Apple Car' Suspension Rumors... Hyundai and Kia Motors Decline

[Asia Economy Reporter Lee Seon-ae] Amid conflicting reports of both suspension and ongoing negotiations regarding the Apple Car talks, which have increased market confusion, Hyundai Motor and Kia Motors are showing a downward trend on the 8th.

As of 9:06 AM on the 8th, Hyundai Motor is trading at 230,500 KRW, down 7.82% compared to the previous trading day. At the same time, Kia Motors is trading at 89,400 KRW, down 11.82%.

The news of the suspension of negotiations appears to have a greater impact. Bloomberg reported on the 5th, citing sources, that discussions between Apple and Hyundai·Kia Motors have been temporarily suspended. Bloomberg added that Apple, which strictly adheres to a principle of 'secrecy,' is "angry" that the talks leaked externally, and it is unclear when discussions between the two companies will resume.

On the same day, the US Wall Street Journal reported, "Apple and Hyundai Motor Group are continuing negotiations, and if an agreement is reached, up to 100,000 units could be assembled annually at Kia's plant in Georgia, USA." Furthermore, the Wall Street Journal mentioned that "Kia is in contact with potential partners (parts suppliers) related to Apple Car assembly," adding that there is talk of a specific investment amount of '3 billion dollars (approximately 3.36 trillion KRW).'

This content was produced with the assistance of AI translation services.